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Elizabethtown Area SD consultants outline $160M borrowing cap, recommend 4.3% preliminary tax increase
Summary
Financial advisors told the Elizabethtown Area SD board that statutory non‑electoral borrowing capacity is about $176M with $52.2M outstanding, leaving roughly $126M available; they urged setting a 4.3% preliminary tax increase and a 2.5% annual set‑aside to prepare for layered bond issues and bridging a potential $12M district cash shortfall on a $175M new‑build.
At a district financial workshop, external advisors told the Elizabethtown Area School District that statutory borrowing capacity and multi‑year planning will determine how much of a proposed large building project the district can finance without seeking voter approval.
The district’s chief financial officer opened the meeting and laid out audited balances, saying, "As of the June '25, our general fund balance is at $5,200,000" and that the 2025–26 budget anticipates a $3.5 million fund balance. The board had previously received three proposals from RLPS for project options.
Alarm Stadel, one of three consultants introduced by the CFO, reviewed the district’s existing debt and financing mechanics and said the district currently carries about $52.2 million in outstanding principal. Brad Remick, another consultant, walked the board through the Commonwealth’s statutory non‑electoral debt calculation,…
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